Tag Archives: FINRA
FINRA: ETF Trades from Representative Cost Customers $8.4 Million
A former representative from WFG Investments, Inc., agreed to a court decision that he be barred from the securities industry as penalty for recommending trades in particularly risky, nontraditional exchange-traded funds (ETFs). These funds led to about $8.4 million in losses to customers. This settlement was filed by the Financial Industry Regulatory Authority (FINRA). According […]
FINRA Changes Sanctions Guidelines on Several Key Issues
The Financial Industry Regulatory Authority (FINRA), a self-regulatory agency, has updated its sanctions guide to ensure in-house judges consider whether broker-dealers took advantage of elderly or vulnerable clients when making their rulings. The agency also expanded its guidance related to how judges should adjust penalties when sanctions have been imposed by other federal agencies, in […]
